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Raldikuk posted:Most people I talk to have no idea that charitable giving has to be itemized and that they only get the benefit of itemizing if it exceeds the standard deduction. So I imagine most people won't actually notice that anything has changed. Heck most tax programs let you enter in all of your charitable givings regardless and if you just hit next next next you might not even note when it says it chose the standard deduction... or even what the implication of that is. And since the standard deduction is much more than what most people actually charitably give... that probably further entrenches the misinformation. This is (was) highly dependent on how much state income tax you pay, since state income tax is (used to be) tax deductible.
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Mar 8, 2018 05:21
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Colin Mockery posted:This is (was) highly dependent on how much state income tax you pay, since state income tax is (used to be) tax deductible. Anyone who realizes state income tax was deductible made enough to itemize deductions and is a bougie capitalist pig. UP AGAINST THE WALL, SCUM.
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Mar 8, 2018 13:27
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EAT FASTER!!!!!! posted:Anyone who realizes state income tax was deductible made enough to itemize deductions and is a bougie capitalist pig. UP AGAINST THE WALL, SCUM. This, Republicans are good concentrating wealth in only a few so we have less to round up.
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Mar 8, 2018 13:43
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Elephanthead posted:This, Republicans are good concentrating wealth in only a few so we have less to round up. The money we're saving on ammunition (which we can also deduct as a business expense) can be used to further our cash flow into other projects!
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Mar 8, 2018 14:13
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Elephanthead posted:This, Republicans are good concentrating wealth in only a few so we have less to round up. But they have all the guns. How we've managed to not have a tax deduction on ammo I do not know.
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Mar 8, 2018 14:23
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Krispy Wafer posted:But they have all the guns. No they don't 
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Mar 8, 2018 16:28
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NancyPants posted:No they don't  
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Mar 8, 2018 17:12
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NancyPants posted:No they don't A lot of them do? And they disproportionately have the nastier guns. They're also disproportionately diabetic so just steal their insulin until they're hobbling around on stumps.
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Mar 8, 2018 17:26
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 but self-aware.Major debt from gambling - taxes - etc (self.personalfinance) https://www.reddit.com/r/personalfinance/comments/82ykpl/major_debt_from_gambling_taxes_etc/ quote:So I made a good portion of my income from trading/work/poker - 3 streams of income for few years. I use to make 150k-200k a year via trading/poker but now I lost all my money recently in trading and poker and now i am in 55k+ of debt. My day job pays me 30k a year. 30k of this debt is via the IRS for this year taxes and 25k is on credit cards. I know I am done trading and gambling and I am going to go seek help for it. I have no other assets except 10k in an employer retirement account that I cannot withdraw. What should I do? I don't want to apply for bankruptcy. I don't own a car or anything. I am 26 years old. I plan on going back to school since I realized poker and trading can't be guaranteed incomes
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Mar 8, 2018 17:34
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Motronic posted:
The voice inside my head is screaming about this one. Great content.
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Mar 8, 2018 17:38
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Whoa, you can LOSE money gambling?!
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Mar 8, 2018 18:12
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By "I used to make 200k a year" he means he luckboxed while jumping up stakes for a single year.
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Mar 8, 2018 18:18
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GoGoGadgetChris posted:Whoa, you can LOSE money gambling?! It's impossible to lose money gambling if you do it correctly, his mistake was that he stopped gambling. All he needs is a hot streak to win it all back, the money's only really lost once you give up on winning it back!
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Mar 8, 2018 18:21
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Kinda wanna know what stock he was buying.
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Mar 8, 2018 18:53
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Wouldn't he be able to deduct gambling losses on his taxes? It's not great but it'd be something.
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Mar 8, 2018 19:08
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Krispy Wafer posted:Wouldn't he be able to deduct gambling losses on his taxes? It's not great but it'd be something. It is kinda of a screwed up deal, normally you can carry back losses to a prior year but I think they don't allow that with gambol loses and or the new Trump tax law.
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Mar 8, 2018 19:15
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Solice Kirsk posted:Kinda wanna know what stock he was buying. A little stock I like to call BITCOIN
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Mar 8, 2018 19:20
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Krispy Wafer posted:Wouldn't he be able to deduct gambling losses on his taxes? It's not great but it'd be something. AFAIK, you can only deduct against your winnings. So if you say make $50k in salary from a job, but lose $50k gambling, you still owe taxes on the salary. IRS doesn’t consider stock bets to be gambling though.
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Mar 8, 2018 19:21
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Krispy Wafer posted:Wouldn't he be able to deduct gambling losses on his taxes? It's not great but it'd be something.
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Mar 8, 2018 19:25
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Hoodwinker posted:You can only deduct gambling losses in connection to your gambling winnings. If you lose $2,000, you can deduct nothing. If you lose $2,000 and you win $2,000, you can deduct $2,000. If you lose $2,000 and you win $1,000, you can deduct $1,000. Can he apply losses this year to gains last year? I doubt it, but hey this is Trump's America so anything's possible.
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Mar 8, 2018 19:28
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Krispy Wafer posted:Can he apply losses this year to gains last year? I doubt it, but hey this is Trump's America so anything's possible.
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Mar 8, 2018 19:29
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GoGoGadgetChris posted:Whoa, you can LOSE money gambling?! Must not change title, must not change title
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Mar 8, 2018 19:30
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Hoodwinker posted:Usually it's only losses that carry forward. See: capital gains. So he really shouldn't stop gambling yet? Because it sounds like a double or nothing kind of opportunity.
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Mar 8, 2018 19:37
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Well, it's still negative value because he either wins tax-free money (because of brought forward losses) or loses post-tax money, so if there's any house edge it's still a bad idea. This all makes the generous assumption that he declared and paid tax on his past gambling winnings 
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Mar 8, 2018 21:02
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Enchanted Hat posted:Well, it's still negative value because he either wins tax-free money (because of brought forward losses) or loses post-tax money, so if there's any house edge it's still a bad idea. Did zaurg leak in to this thread?
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Mar 8, 2018 21:06
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Moneyball posted:Did zaurg leak in to this thread? Groverhaus had assured me the thread had been thoroughly Zuargproofed a week ago!
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Mar 8, 2018 21:08
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Panfilo posted:Groverhaus had assured me the thread had been thoroughly Zuargproofed a week ago! Probably shouldn't have bought silicone sealant from a company with it's own crypto coins.
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Mar 8, 2018 21:46
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Does 'buy guns to own the libs' count as BWM, given that those who do generally can't afford it? Been hearing some chatter about AR-15s as 'investments' for when the government comes and other crazy poo poo. How that sentiment is compatible with 'are troops', 'blue lives matter' and 'presidents should be respected*', I'll never know  *unless they're black or democrat
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Mar 9, 2018 00:06
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People who buy guns generally can't afford it? What? lol I do not know this stereotype! AR15s are only like $500.
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Mar 9, 2018 00:10
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I guess it's the same logic where people rant about small Government and then turn around saying there should be a large military force. If the Government comes to take all the guns who do they think they are going to send against heavily armed anti-Government terrorists?
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Mar 9, 2018 00:15
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Devian666 posted:I guess it's the same logic where people rant about small Government and then turn around saying there should be a large military force. If the Government comes to take all the guns who do they think they are going to send against heavily armed anti-Government terrorists? Well if modern history is anything if they are white no one.
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Mar 9, 2018 00:39
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Guest2553 posted:Does 'buy guns to own the libs' count as BWM, given that those who do generally can't afford it? Been hearing some chatter about AR-15s as 'investments' for when the government comes and other crazy poo poo. How that sentiment is compatible with 'are troops', 'blue lives matter' and 'presidents should be respected*', I'll never know After another 10 or 12 major school shootings they'll probably re-enact the AWB and AR-15's will become magically more expensive. So yeah, it can be construed as an investment. But do you really want to wait a whole 12 months for a 25% return on your investment?
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Mar 9, 2018 00:45
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Krispy Wafer posted:After another 10 or 12 major school shootings they'll probably re-enact the AWB and AR-15's will become magically more expensive. So yeah, it can be construed as an investment. But do you really want to wait a whole 12 months for a 25% return on your investment? I wonder about this. AR15 ownership was extraordinarily low (by comparison) in 1994 before the previous AWB. 4.2 million AR15s were built in 2016 alone. I wonder if there are all that many people who want one and don't already own one?
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Mar 9, 2018 00:59
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GoGoGadgetChris posted:I wonder about this. AR15 ownership was extraordinarily low (by comparison) in 1994 before the previous AWB. It doesn't matter how many of them are already in circulation, the moment you can't buy the exact model with the kick rear end attachments that you want prices will increase. Any excess supply will be offset by hoarding. It's like if you ban high capacity magazines, you can pooh-pah that there already millions in circulation, but good luck finding someone to sell you one. Laws of supply and demand don't really work with guns because the owners have an emotional attachment to them. It's like trying to find sense in Harley Davidson purchases.
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Mar 9, 2018 01:08
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Krispy Wafer posted:It doesn't matter how many of them are already in circulation, the moment you can't buy the exact model with the kick rear end attachments that you want prices will increase. Any excess supply will be offset by hoarding. It's like if you ban high capacity magazines, you can pooh-pah that there already millions in circulation, but good luck finding someone to sell you one. Yeah, but I wonder more about the buyer side than the seller side. I don't doubt the low number of sellers if a ban happens. I just wonder how many buyers there will be. I guess there are plenty of unborn people or under-21 people that may want but literally can't currently buy one, but the barrier to entry is so low that anyone who wants an AR15 owns an AR15.
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Mar 9, 2018 01:24
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GoGoGadgetChris posted:People who buy guns generally can't afford it? What? lol Based on TFR alone I would answer, firmly, yes, most of them cannot really afford the amount of guns and ammo that they purchase. The problem is that they aren't happy with only one or two guns. Vox Nihili fucked around with this message at 01:44 on Mar 9, 2018 |
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Mar 9, 2018 01:42
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The problem is that some people who are buying firearms are thinking that they will be able to make money selling them if some sort of ban occurs in the future. This presumes that such a potential future ban would be similar to the 1994-2004 AWB which banned new production for the general population, but allowed the sale and transfer of pre-ban firearms and magazines. The people proposing the bans may be wrong, but they aren't necessarily dumb. Banning the sale and transfer of pre-ban firearms and magazines has been a part of the past few proposed ban bills. Buy guns because you like them, not because you think some future ban someday might make them more valuable.
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Mar 9, 2018 02:09
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I've been seeing a lot of posts on my Facebook feed about a MLM coffee.quote:ONE CUP A DAY 
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Mar 9, 2018 02:42
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Finally, after all these years, a coffee that boosts energy and mental focus.
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Mar 9, 2018 02:47
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Caffeine is basically voodoo magic, yes.
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Mar 9, 2018 02:47
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